Gold Trading Scenario – Start of the Week
Hello traders,
A new week begins with gold holding steady above the 34xx zone, establishing a fresh value area. The current structure has already broken through key resistance levels on the higher timeframe – including the daily trendline and H4 barriers – confirming strong bullish momentum.
The rally played out exactly as expected, reaching the target around 3450 (with a high of 3454). Price is now showing a slight pullback. This will only be seen as a trend reversal if price breaks below 3404. Otherwise, it’s simply a secondary correction in line with Dow Theory.
Wave 5 may have already completed, but the ABC structure is not yet clear. For that reason, I continue to favour buying in line with the trend to maintain higher probability setups.
Buy zone for today: 3408–3412. This area previously acted as resistance, but was broken on Friday and now serves as a solid support region.
This is my medium-term outlook for gold at the start of the week. Take it as reference, and feel free to share your thoughts in the comments so we can discuss further.
Hello traders,
A new week begins with gold holding steady above the 34xx zone, establishing a fresh value area. The current structure has already broken through key resistance levels on the higher timeframe – including the daily trendline and H4 barriers – confirming strong bullish momentum.
The rally played out exactly as expected, reaching the target around 3450 (with a high of 3454). Price is now showing a slight pullback. This will only be seen as a trend reversal if price breaks below 3404. Otherwise, it’s simply a secondary correction in line with Dow Theory.
Wave 5 may have already completed, but the ABC structure is not yet clear. For that reason, I continue to favour buying in line with the trend to maintain higher probability setups.
Buy zone for today: 3408–3412. This area previously acted as resistance, but was broken on Friday and now serves as a solid support region.
This is my medium-term outlook for gold at the start of the week. Take it as reference, and feel free to share your thoughts in the comments so we can discuss further.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💠Accurate signals 🥉 a standardised trading system.
🍑Free training and daily sharing of market experience.
t.me/+9B0zBuS1rboxZTY1
🍑Free training and daily sharing of market experience.
t.me/+9B0zBuS1rboxZTY1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.